Foundation Home Loans and TML launch limited edition BTL products

Foundation Home Loans has launched a fee-free limited edition owner-occupier remortgage product, along with a limited edition buy-to-let (BTL) deal.

The remortgage product is available up to 75 per loan to value (LTV), with its two-year version priced at 3.19 per cent and its five-year pegged at 3.49 per cent.

It has a minimum loan size of £200,00 and is available on a capital and interest basis. It has no product or application fees and comes with a standard valuation.

The limited edition BTL products are also available up to 75 per cent LTV and are eligible for both purchase and remortgage. Individual and limited company landlords are eligible.

The two-year fixed rate is priced at 2.94 per cent, while its five-year fixed rate stands at 3.14 per cent. It has a flat fee of £1.995 and there is no minimum loan size.

George Gee, commercial director at Foundation Home Loans, said that borrower interest in products with lower upfront costs was growing, which was why it launched its remortgage product.

He added: “With highly competitive interest rates we believe these new limited editions will provide advisers with a set of options to fit a number of client demographics.

“The flat fee option for landlords also means these BTL limited editions are highly competitive on total cost and will interest landlords who specifically want larger loan amounts.”

The Mortgage Lender adds HMOs to limited edition BTL products

Elsewhere, The Mortgage Lender has added houses of multiple occupation (HMO) and multi-unit blocks (MUBs) products to its limited edition range.

The five-year fixed rate for HMOs and MUBs is available up to 75 per cent LTV and has an initial rate of 3.58 per cent.

The lender has also cut the rate for its limited edition five-year fixed rate aimed at individual and limited company borrowers to 3.2 per cent. This is a fall of 0.11 percentage points.

The completion fee for its limited edition range has fallen to one per cent, and all come with standard valuation fees and a £150 application fee.

Steve Griffiths, sales and product director at The Mortgage Lender, said: “Our limited edition BTL products are designed to make it easier for brokers and landlords to refinance and add to their portfolios.

“Adding HMO and MUB properties to the mix gives landlords looking to purchase or remortgage those buildings access to competitive five-year rates and reduced completion fees, bringing down the overall cost of refinancing or purchasing while allowing them to leverage by borrowing up to 75 per cent LTV.”